The financial institution announced that the African Bank Development Agency (BAD) grants a donation to Bank Al-Maghrib (BAM) in order to develop electronic payments and strengthen inclusion financial in Morocco.

The Pan African Bank granted a donation of 510,000 U.S. dollars to the Payment Acceptance Development Fund electronics set up by the Bank Central Morocco . This funding aims to support the expansion of digital payments, to strengthen financial inclusion and to reduce the use of cash in Morocco, the financial institution said.

The BAD said that the participation of ADFI responds to crucial issues defined by the Mso-bidi-language:ar-sa"> Central Bank from Morocco at the national and sectoral levels. According to the institution, this funding provided “aims to accelerate the transition to digital payments while expanding access to financial services adapted to the needs of all.”